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10/01/2013 at 10:00
We haven't had to do this yet. But with the house move looking it may be necessary to use C's savings towards the deposit on our house. Have you used your kids savings for things? Did you replace it?? If it was for necessities did you think twice about it??
10/01/2013 at 10:04
We borrowed some of L's to get carpets laid in the new house, its been replaced now.
10/01/2013 at 10:06
I would only borrow their money if I knew 100% that I could pay it back quickly. It's not something we've done but they don't have much in real cash, most of it is in premium bonds or trust funds.
My kids don't have savings but I do dip in to their money boxes if I haven't got any change for the window cleaner etc
I've not touched any of L's savings....not that he has much.
10/01/2013 at 10:15
I haven't touched the girls savings, we save every month for them plus put christmas and birthday money in there. I cannot touch a large chunk of Lauren's anyway as in a long term bond but I kind of forget I have it as I don't see it as mine - does that make sense?
10/01/2013 at 10:16
That's like us Neen, it's not our money so we never think about it.
10/01/2013 at 10:31
I've never dipped into the kids money, but i can't anyway even if i wanted to. It's in an ISA that you can't get access to until they're 18, i think? I did it this way so that i'd never be able to take money from it. H and I pay a small amount into it each month as a sort of "pocket money", and their birthday and christmas money goes into there too, unless there is something specific they need/want.
10/01/2013 at 10:37
No we have never needed to. H and I pay into an account each month which is there for when they turn 18- I'd like to think it'll help them at university if they choose to go. My parents set up a trust fund too but we cannot touch it and neither can the children until they are 21 I think. I spend their birthday and Christmas money on them, they get clothes, shoes, toys from it.
10/01/2013 at 10:47
When I talk about his savings I mean money he has been given from people for birthdays and Christmas etc that I put into his building society account. He has other savings that I don't touch.
10/01/2013 at 11:02
Our children dont have savings, actually WE don't even have any savings since we bought our car! Any money they get for birthdays or Xmas (my grandad is the only person that gives them money so it's not much) does go in their bank but is usually spent on them, last years went towards Js birthday party and this years is still in there though.
Once we can buy a house we will start saving for them but I would use it if I had to.
10/01/2013 at 11:27
No never. It's their money for their future.
10/01/2013 at 11:33
No. Never. It's not my money to spend.
10/01/2013 at 12:05
It depends. They have a savings account which i dont touch and a normal.account where birthday and christmas money goes
We occasionaly use that for things like shoes etc but thats what it was given for so I dont feel bad about that.
10/01/2013 at 12:06
But, if it meant the difference between you getting a house or not then id use it. A roof over their heads is more important than pennies in the bank at this age imo.
10/01/2013 at 12:15
I haven't but if I needed it for something important like a new home I would do it. But I would want to put it back again afterwards.
10/01/2013 at 12:23
I have borrowed and replaced a couple of hundred pounds before when it has been essential and ultimately for the benefit of us as a family.
10/01/2013 at 12:28
I borrowed £500 out of C's savings, as there were some things that needed sorting, which would have cost more if left. I borrowed it, knowing I could put it back.
10/01/2013 at 13:38
Yes - we needed a new car and had to pay off the old loan before we could get another one, so we borrowed £500 out of both kids savings, so £1000. They don't need it yet and we will pay it back eventually - who knows when, but its money we have saved for them plus birthday xmas money.
Dont feel bad about borrowing it hun, better than being stuck where you are!
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